Trump threatened ‘such problems’ for Amazon, but Jeff Bezos has little to worry about – CNBC
“We see this as a defensive, reactionary tactic, where Trump used a mirage of attack points to attempt to implicate Jeff Bezos and, by extension, the credibility of The Washington Post investigation,” Gene Munster, an analyst at Piper Jaffray, wrote in last week. “We do not believe that the mechanics are in place for Trump to impact Amazon.”
Munster, who recommends buying Amazon shares, doesn’t see any potential antitrust violations because the company controls only about 5 percent of U.S. retail sales.
Still, Amazon shares sank for four straight days after the election, before recouping much of their losses. The stock is down 3.5 percent since Election Day, closing at $760.16 on Friday.
There are broader issues of potential concern to Amazon and its investors.
For one, Trump’s proposals on immigration and foreign worker admissions could turn away H-1B visa candidates, who depend on employment to stay in the country, or even make the U.S. a less-desirable place to work given the political setting. Amazon, like all big tech companies, hires engineers and developers from around the world.
And, of course, there’s the macroeconomic environment.